News Release

Princess Cruises Promotes Ryan Fitzgerald to Entertainment Director

SANTA
CLARITA, Calif. (March 1, 2019) – Ryan Fitzgerald has been promoted to the role
of director, entertainment operations for Princess Cruises. In this position,
Fitzgerald will oversee the entertainment leadership and programming onboard
all 17 ships in the cruise line's global fleet.

Fitzgerald first joined
Princess Cruises in 2015 as manager of cruise staff and programming and was
instrumental in leading the restructuring efforts of the onboard entertainment
teams to include two key positions – entertainment director and cruise
director. This two-year initiative resulted in the shipboard teams achieving
continuously higher guest satisfaction scores. In addition, he and the cruise
staff teams successfully launched new game shows across the fleet as well as
new experiences as part of the Discovery at SEA partnership, including High Seas Heist with Detective Joe Kenda
and Can You Survive?

"In his new role, Ryan
brings vast and valuable experience to oversee the delivery of a fantastic and
memorable entertainment experience for all of our guests," said Denise Saviss,
Princess Cruises vice president, entertainment experience. "His 17 years of
experience in the cruise industry, from working onboard as a cruise director to
now managing all of the onboard activities and cruise staff across the fleet,
contributed to his continued success at Princess Cruises."

Prior to joining Princess
Cruises, Fitzgerald started at Carnival Cruise Line in 2002, initially as a
musician and then joined the cruise staff team where he was promoted to cruise
director in 2007. He moved to the cruise line's shoreside operations in 2011
and was promoted to manager of cruise staff and programming in 2012.

Originally from
Indianapolis, Fitzgerald holds a bachelor's degree in music business from
Middle Tennessee State University and a master's degree in hospitality
administration from University of Nevada, Las Vegas.

Fitzgerald resides in Santa
Clarita, Calif., with his wife and two young children.

About Princess CruisesOne of the best-known names in cruising, Princess Cruises is the fastest
growing international premium cruise line and tour company operating a fleet of
17 modern cruise ships, carrying two million guests each year to 380
destinations around the globe, including the Caribbean, Alaska, Panama Canal,
Mexican Riviera, Europe, South America, Australia/New Zealand, the South
Pacific, Hawaii, Asia, Canada/New England, Antarctica and World Cruises. A team
of professional destination experts have curated 170 itineraries, ranging in
length from three to 111 days and Princess Cruises is continuously recognized
as "Best Cruise Line for Itineraries."

In 2017 Princess Cruises, with parent company Carnival Corporation,
introduced MedallionClass Vacations enabled by the OceanMedallion, the vacation
industry's most advanced wearable device, provided free to each guest sailing
on a MedallionClass ship. The award-winning innovation offers the fastest way to a
hassle-free, personalized vacation giving guests more time to do the things
they love most. MedallionClass Vacations will be activated on five ships by the
end of 2019. An activation plan will continue across the global fleet in 2020
and beyond.

Princess Cruises continues its multi-year, "Come Back New Promise" – a
$450 million-dollar product innovation and cruise ship renovation campaign that
will continue to enhance the line's onboard guest experience. These
enhancements result in more moments of awe, lifetime memories and meaningful
stories for guests to share from their cruise vacation. The product innovations
include partnerships with award-winning Chef Curtis Stone; engaging
entertainment inspired shows with Broadway-legend Stephen Schwartz; immersive
activities for the whole family from Discovery and Animal Planet that include
exclusive shore excursions to onboard activities; the ultimate sleep at sea
with the award-winning Princess Luxury Bed and more.

Three new Royal-class ships are currently on order with the next new
ship under construction, Sky Princess, scheduled for delivery in October 2019,
followed by Enchanted Princess in June 2020. Princess previously announced that
two new (LNG) ships which will be the largest ships in the Princess fleet,
accommodating approximately 4,300 guests are planned for delivery in 2023 and
2025. Princess now has five ships arriving over the next six years
between 2019 and 2025. The company is part of Carnival Corporation & plc
(NYSE/LSE: CCL; NYSE:CUK).